Ester Industries Limited, India’s leading manufacturer of Polyester Films and Specialty Polymers, announced its financial results for the quarter and half year ended 30th September, 2024.

The company has posted net profit of Rs. 12 crore in Q2 FY25 as compared to net loss of Rs. 13 crore in Q2 FY24. Total Income stood at Rs. 302 crore in Q2 FY25 as compared to Rs. 244 crore, reflecting a growth of 24 per cent.

For H1 FY25, Ester Industries has posted PAT of Rs. 10 crore as compared to net loss of Rs. 18 crore in H1 FY24. During H1 FY25, Ester Industries reported Total Income of Rs. 546 crore as compared to Rs. 451 crore in H1 FY24.

Commenting on the performance, Arvind Singhania, Chairman, Ester Industries said: “We are pleased with our quarterly performance which witnessed a turnaround in our Film business and continued strength in our Specialty Polymer business. After facing challenges over the past 7 – 8 quarters, Film business is now experiencing early but strong signs of revival in pricing & margin environment as demand-supply mismatch evens out.

“Specialty Polymer once again posted strong results, driven by the revival of demand in key markets (USA) leading to a higher volume of sales for our marquee products, MB03 and Innovative PBT. We anticipate this positive trend to persist in the latter half of the fiscal, supported by sustained growth prospects and a promising product lineup. Due to the intellectual property protection of our business, margins and profitability are expected to remain remunerative.

“As far as Film business is concerned, I am extremely pleased to report that in line with the indications we earlier shared, we are witnessing a better demand supply balance for BOPET which in turn is translating into more reasonable pricing & margin. The profitability profile of the business had been adversely impacted in the past few years largely owing to weak margins. Although our overall volume of sales for the quarter was lower compared to the past, largely owing to plant shutdown, improved product mix and better pricing & margins resulted in improved profitability for the business. We expect the trend to sustain as we enhance our utilization levels and make steady progress towards achieving our objective of increasing the share of Value Added and Specialty products. In addition, Plastic Waste Management Rules (PWMR) mandating utilization of 10% recycled content in flexible packaging laminate, coming into force from 1st April 2025 will further increase demand for Polyester Film with conversion taking place from other substrates to polyester.

“I am also happy to share that the implementation of plans for our JV with Loop Industries is progressing well. Various activities towards implementation of the project are progressing well and as per the current estimate we expect commercial production to commence during Q2 calendar 2027.

“Moving forward, supported by our robust position in both Strategic Business Units (SBUs), we are optimistic about generating value for our shareholders, considering the strong fundamentals of each business. The collaboration with Loop represents a significant milestone that is poised to drive profitable expansion for the company in the foreseeable future.”